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Miami Region March Home Sales May 7, 2014 Miami-area home sales fell slightly below a year earlier in March as buyers faced higher prices, condo resales continued to ease off record levels and a lower share of homes sold to cash and investor buyers. The median sale price rose to the highest level in more than five years, a real estate information service reported. In March, 10,144 new and resale houses and condos closed escrow in the metro area encompassing Miami-Dade, Palm Beach and Broward counties. March sales increased 26.3 percent from the prior month and fell 0.7 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. A surge in sales between February and March is normal for the season. On average, Miami sales have increased 29.7 percent between those two months since 1997, when DataQuick's complete Miami-area statistics begin. This March's sales were 10.1 percent below the average number of sales for the month of March since 1997. March's condo resales were 21.1 percent above average for the month, while single-family detached house resales were 11.1 below the long-term average and new-home sales were 73.8 percent below average. Condo resales fell 4.1 percent in March compared with a year earlier but continued to account for an above-average share of all activity. In March, condo resales represented 49.1 percent of total sales, compared with an historical monthly average of about 36 percent. In March, the median price paid for all new and resale houses and condos sold was $185,000, up 7.6 percent from the month before and up 19.4 percent from a year earlier. The March median was the highest since the median was $200,000 in December 2008. The Miami region's median has risen year-over-year for 27 consecutive months, and those gains have been double-digit for the past 20 consecutive months. This March's median stood 36.2 percent below the Miami area's peak...

U.S. Bancorp Reports New Investigations of FHA Lending Bloomberg U.S. Bancorp (USB), the nation&#39;s largest regional lender, said authorities are investigating origination and servicing practices for home loans insured by the Federal Housing Administration. Agencies are also probing compliance with sales guidelines on home&nbsp;... and more&nbsp;&raquo;

Blackstone Said to Plan Sale of $1 Billion in Home Bonds Bloomberg Blackstone Group LP (BX), the largest U.S. landlord of single-family homes, is working with Deutsche Bank AG to sell $1 billion of securities tied to its properties, about twice the size of previous offerings, according to a person with knowledge of the plans.

Mortgage originations among borrowers in the 620 to 680 credit score range have plunged some 90 percent since the housing crisis in 2007 and still have far to go before they recover. One thing that&#8217;s holding back these borrowers is a series of increases in FHA&#8217;s mortgage insurance premiums. They&#8217;ve been raised five times since [&#8230;]

(Reuters) - Wells Fargo & Co, trying to increase its credit card market position, said it is issuing two new credit cards through a partnership with American Express Co in its latest effort to woo more wealthy customers.

NEW YORK (MarketWatch) -- Interest rates on federal Stafford student loans will rise to 4.66% for undergraduate students next year from 3.86% in the prior year. The interest rate is pegged annually to an auction of 10-year Treasury notes , which sold at a yield of 2.61% on Wednesday. The interest rate for graduate students will rise to 6.21% next year from 5.41% in the current year. Federal student loans were first pegged to Treasury auctions last year.

NEW YORK (MarketWatch) -- The Treasury Department sold $24 billion in 10-year notes Wednesday at a yield of 2.612%, the lowest yield since last June. Bidders offered to buy 2.63 times the amount of debt sold, compared to an average of 2.70 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 49.3%, versus 46.8% in recent sales. Direct bidders, which include domestic money managers, purchased another 21.6%, versus an average of 17.0%. The broader bond market remained higher after the auction. Yields on 10-year notes, which move inversely to prices, fell 1 basis point to 2.584%.

Here are MIT's Andrew McAfee, coauthor with Erk Brynjolfsson of The Second Machine Age, and McKinsey's James Manyika discussing automation and jobs: James Manyika: Between the period of 2000 and 2008-2008 because that's when the recession started, so we have a clean look-the &#8230; read more &#62;

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen said the central bank will continue to provide a high degree of monetary policy accommodation, and cited geo-political turmoil and weak housing data as risks to the U.S. economy.

WASHINGTON (Reuters) - U.S. nonfarm productivity fell at its fastest pace in a year in the first quarter as severe weather took its toll, leading to the largest gain in unit labor costs in more than a year.

CHICAGO, IL (Marketwired) - The mortgage delinquency rate (the rate of borrowers 60 days or more delinquent on their mortgages) declined for the ninth consecutive quarter to 3.61% at the end of Q1 2014, according to TransUnion's latest mortgage report. The mortgage delinquency rate has declined more than 24% in the last year (down from 4.76% in Q1 2013), and it is now at the exact same level as it stood in Q2 2008.

NEW YORK (Reuters) - U.S. stock index futures edged up on Wednesday, following the biggest drop in the S&P 500 since mid-April, as earnings season began to wind down and ahead of congressional testimony from Federal Reserve Chair Janet Yellen.

Wells Fargo&#39;s Mortgage Pain Proves Salve for Bond Market Bloomberg An estate agent stands with potential home buyers outside a previously owned home in Mackinaw, Illinois. Applications for loans tied to home sales are 21 percent lower than a year ago and the Mortgage Bankers Association predicted for the first time last&nbsp;...

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